Vitesse Semiconductor, a provider of advanced IC solutions for carrier and enterprise networks, has appointed Martin McDermut as senior vice president (SVP), finance and chief financial officer (CFO). McDermut replaces Rich Yonker, who has served as CFO since 2006.
McDermut has more than 25 years of financial management experience including finance, accounting, auditing, general management, capital markets and investor relations. His background ranges from work with private enterprises to large, public, multinational corporations in a variety of industries including high technology and medical technology.
He was previously the managing director of Avant Advisory Group, a financial advisory and management consulting firm to entrepreneurial and middle-market companies. He has also served as CFO for publicly traded companies, including Iris International and Superconductor Technologies. He was a partner at the public accounting firm of Coopers & Lybrand (now known as PricewaterhouseCoopers (PwC)), where he was the practice leader of the firm’s Los Angeles entrepreneurial advisory services group.
McDermut is a certified public accountant (CPA). He holds a BA in Economics from the University of Southern California and an MBA in Finance and Accounting from the University of Chicago.
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